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American Financial Group, Inc. (NYSE: AFG) is a premier insurance holding company headquartered in Cincinnati, Ohio. Through its principal subsidiary, Great American Insurance Group, AFG specializes in property and casualty insurance services, focusing on niche commercial products tailored for businesses. Established in 1872, Great American Insurance Group provides vital insurance coverage across all 50 states through a network of independent agents and brokers. Apart from property and casualty insurance, AFG also operates in the annuity market, offering traditional fixed and fixed-indexed annuities, particularly in the education, bank, and individual sectors.
Recent financial performance highlights include a third-quarter net earnings report of $177 million for 2023, reflecting a $2.09 earnings per share. Core net operating earnings rose to $2.45 per share, marking a significant 9% increase from the previous year. This robust performance was driven by higher net investment income, despite a slight decrease in underwriting profits within the Specialty Property and Casualty insurance operations.
AFG continues to show a strong annualized return on equity (ROE), with a third-quarter ROE of 15.7% and a core operating ROE of 18.3%. The company reported an overall 7% renewal rate increase, excluding workers’ compensation, and maintained its annual earnings guidance at $10.15 to $11.15 per share for the full year 2023. Additionally, AFG's Board of Directors declared a $1.50 per share special dividend, underscoring the company's commitment to returning value to its shareholders.
With significant excess capital and a strong balance sheet, AFG continues to pursue growth opportunities within its core insurance businesses while maintaining a prudent capital management strategy, including regular and special dividends and strategic share repurchases. The company's focus on specialization and deep market expertise positions it well for sustained growth and profitability in the competitive insurance landscape.
American Financial Group (NYSE: AFG) will announce its 2021 fourth quarter and full year results on February 9, 2022, at 5:00 p.m. ET. The results will be accessible on AFG’s website. A conference call is scheduled for February 10, 2022, at 11:30 a.m. ET to discuss the financial outcomes. Participants can join by phone or via the internet with options provided for both. A replay will be available until February 17, 2022.
American Financial Group (NYSE: AFG) has acquired Verikai, Inc., a machine learning and AI company specializing in insurance risk assessment, for approximately $120 million in cash. Effective December 2021, Verikai will operate independently under the leadership of its CEO, Jeff Chen. AFG's Co-CEO, Carl H. Lindner III, expressed confidence in Verikai's potential to enhance AFG's offerings, particularly in the medical stop-loss insurance sector. Verikai's innovative risk assessment tools aim to optimize underwriting efficiency and broaden access to insurance products.
American Financial Group (NYSE: AFG) announces the retirement of David P. Faeth, Assistant Vice President, effective May 2022, after 36 years with the company. Faeth started in AFG’s Tax Department in 1985, later moving to the annuity business and then to Corporate Development. He was a key figure in Enterprise Risk Management and Sarbanes-Oxley compliance. Faeth holds a Bachelor's in Accounting and an MBA, and is a Certified Public Accountant in Ohio. The company focuses on specialized commercial property and casualty insurance through the Great American Insurance Group.
American Financial Group (NYSE: AFG) has declared a regular dividend of $0.56 per share, payable on January 25, 2022, to shareholders on record as of January 14, 2022. This move reflects the company's ongoing commitment to returning value to its shareholders. AFG primarily operates in the property and casualty insurance sector through its subsidiary Great American Insurance Group.
American Financial Group (NYSE: AFG) declared a special one-time cash dividend of
American Financial Group, Inc. (NYSE: AFG) announces a virtual investor forum hosted by Wolfe Research on December 14, 2021. Co-CEOs Carl H. Lindner III and S. Craig Lindner, CFO Brian S. Hertzman, and Executive VP Anthony J. Mercurio from Great American Insurance Group will participate. Although there will be no company presentation, investor materials will be available on AFG’s Investor Relations website prior to the conference. American Financial Group, based in Cincinnati, specializes in property and casualty insurance through its Great American Insurance Group.
American Financial Group (NYSE: AFG) announced that Co-CEOs Carl H. Lindner III and S. Craig Lindner, along with CFO Brian S. Hertzman, will participate in the 2021 Morgan Stanley Virtual Insurance Corporate Access Day on November 22, 2021. There will be no formal presentation, but several investor meetings will take place. Relevant investor materials will be available on AFG's Investor Relations page prior to the event. AFG specializes in property and casualty insurance through the Great American Insurance Group, which has historic roots dating back to 1872.
American Financial Group (NYSE: AFG) has announced the appointment of Amy Y. Murray to its Board of Directors, bringing over 35 years of leadership experience in both corporate and governmental sectors. She previously led Asian business development for Procter & Gamble (NYSE: PG) and has held significant roles in local and federal government. Additionally, Virginia C. Drosos will step down from the board in December 2021 to pursue another opportunity. AFG's co-CEOs expressed confidence in Murray’s abilities to contribute positively to the company’s future.
American Financial Group (NYSE: AFG) announced an investor forum on November 18, 2021, at 11:00 a.m. (ET), in New York City. The forum will feature key executives, including Co-CEO Carl H. Lindner III, CFO Brian S. Hertzman, and EVP David L. Thompson Jr., representing the Great American Insurance Group. No formal company presentation will occur; however, investor materials will be available on the AFG Investor Relations website prior to the meeting. AFG specializes in property and casualty insurance, with operations dating back to 1872.
American Financial Group (AFG) reported strong third-quarter results for 2021, with net earnings per share of $2.56, reflecting a year-over-year increase from $1.86. Core net operating earnings reached $2.71 per share, a 96% increase. The company declared a special cash dividend of $4.00 per share, payable on November 22, 2021, bringing total special dividends for the year to $24.00 per share. AFG's annualized return on equity stood at 16.6%, with excess capital of approximately $3.0 billion. Full-year core earnings guidance was revised upwards to $10.10 - $10.70 per share.
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